Binance – the world’s biggest and most popular cryptocurrency trading platform – is bringing several new coins to investors including Tezos (XTZ). The asset will be available to all traders utilizing Binance.us.
Binance Brings Tezos to U.S. Traders
The cryptocurrency exchange has also commented that trading pairs between XTZ/ USD and XTZ/ Binance USD (BUSD – the company’s stable currency) will also be available. Trading is slated to go live next Monday. Prior to that date, all customers of Binance.us will have the option of depositing XTZ, BUSD and USD into their exchange accounts.
XTZ was founded in 2014 and is currently trading at $1.47 per token. This is a major drop from the $2.65 it was witnessing just over a week ago, though thanks to the coronavirus, virtually every major cryptocurrency is experiencing heavy price slides.
Despite being roughly six years old, XTZ didn’t reach fruition until three years later in 2017, when it hosted an initial coin offering (ICO). At the time, the currency managed to garner approximately $232 million in funds, making it the largest ICO on record until Filecoin overtook it.
Binance CEO Changpeng Zhao has also announced that his enterprise is looking to expand its horizons and establish a new fiat gateway in Africa as a means of granting the many peoples located on the continent easier access to crypto. Traders of digital assets will soon be able to exchange their tokens for Rands and vice versa.
Africa illustrates one of the largest demands and instrumental use cases for cryptocurrency, notably for financial access. According to the World Bank, approximately 66 percent of sub-Saharan Africans are listed as unbanked. So, instead of trying to bank the unbanked, let’s try and bitcoin the un-bitcoined.
Zhao isn’t stopping here. Taking notice of the recent bitcoin price crashes that investors have been witnessing, the CEO of Binance claims that he will do everything in his power to prevent the world’s number one cryptocurrency by market cap from falling to zero.
In a series of tweets, Zhao explained to worried traders:
Still worried about BTC going to zero? Don’t! So long as I have a penny left, it won’t happen… I have roughly $500 worth of monopoly money.
Selling Your BTC Won’t Help
Zhao initially told people in August of last year that selling their bitcoins while the currency was below $10,000 was a huge mistake. Sadly, it doesn’t look like many crypto enthusiasts have listened, as following the coronavirus scare and the subsequent price drops, bitcoin became the victim of a massive sell-off that has ultimately helped lead to its downfall from $10,350 in February to the measly $5,300 it’s trading at now.
Along with crypto, the stock market has also taken a drastic turn for the worse, while oil is trading at its lowest numbers in months.